Should I Be an S Corporation or a C Corporation?

You must become a business. You have to form an entity, l c or corporation. Step number three is you have to make an election of how to tax that entity. And it should be either an s corporation or a c corporation. This is assuming you're in business. This is not investment real estate. We don't elect to be taxed as corporations. That's a whole different discussion. So step four is you need to pay yourself a reasonable salary. Do not this by yourself. But most important is you have a bookkeeper and you have somebody handling your pay roll. I'm giving you general, broad guide lines, as opposed to specific advice,. ecause i don't know